Posted on 02/22/2005 5:37:59 AM PST by samsonite
NEW DELHI -- For 12 years, Doug Bettinger was a senior finance executive at Intel Corp., working at the U.S. computer-chip maker's offices in Silicon Valley, Arizona and Malaysia. In November, the 37-year-old jumped ship, becoming chief financial officer of Bangalore-based call center operator 24/7 Customer.
"The growth India is experiencing is crazy," says Mr. Bettinger, who now splits his time between 24/7 Customer's offices in Los Gatos, Calif., and Bangalore. "There are lots of opportunities there that you couldn't get at Intel."
Mr. Bettinger is among a growing number of U.S. and Western executives being poached -- not to mention well-paid -- by Indian technology companies trying to globalize their software and outsourcing businesses. In recent months, Indian businesses have hired dozens of executives from companies including Electronic Data Systems Corp., Deloitte Consulting LLP, McKinsey & Co., Accenture Ltd. and Ernst & Young LLP
Headhunters working for Indian companies say their clients have to pay a premium to attract U.S. talent due to their companies' lower profiles and limited track records. In one recent case, an Indian company offered an American executive a base salary of $350,000 plus a potential bonus of $2 million over two years to join its U.S. operations, according to an executive with knowledge of the deal. The executive's salary at his U.S. company was $300,000 annually plus stock options equal to around $1.2 million over four years.
(Excerpt) Read more at online.wsj.com ...
Pack up the Elephant...and put a Cow Guard on the front..
Gimme a plate of Tandoori chicken to go...
We're poaching their doctors; so fair is fair;
I suppose it's "whatever the market will bear"...
(Just don't ask me to live over there!)
I feel the same way. I do get a good feeling about this one, however. If all the executives who sold us out now move to India, we can rebuild our own companies without those traitors in high places.
When we went to college, everyone wanted to get a degree in physics. Most of us couldn't hack it so we switched to engineering. Half couldn't even make it there and settled for business admin. Decades later, the MBA' s hire engineers who out-earn physicists.
It's kind of hard to keep this straight. An American company that hires off shore labor is un-Amercan, and a US citizen who accepts wages from an overseas company is a traitor.
What am I missing?
Yawn, right.... a terribly stereotypical reaction
The concept that American companies exist only to subsidize American lifestyles. ;)
Basing this just on the excerpt as the article requires registration.
I'm wondering what corporate secrets these guys take with them. They may have had to sign agreements of silence when they signed on in the U.S. but how proveable/enforceable is that in India?
Also seems to me a lot of insitutional memory, let alone secrets, is walking out the door.
the problem is - the entire industry will have moved to a lower cost basis (except in the area of executive compensation of course) - and any US resurgence will have to compete against that, securing venture capital and investment against that backdrop. its going to be very difficult.
basically, we are seeing the death march for these industries in the US, and I don't see any way its going to turn around. the enrollment into colleges tells you what you need to know, if it weren't for foreign nationals attending US engineering schools, many would have already closed their programs.
Yeah, tell me about it. I have a PhD in molecular physics. Some of my grad school buds are day traders, some are IT contractors, some are high-school teachers.
Just repeat: we don't have enough science grads in the US, that's why we have to offshore everything.
I was on a thread with some fellow a couple of days ago who was proclaming his head hunter friend could not find anyone to fill IT jobs. I tried to explain to him that so many people have simply left the field and moved onto other things, while the college enrollment rate has fallen off the cliff, that this is what his friend was seeing - it was not some new emergence of a tech jobs boom.
That's the slogan. OTOH, those of us who make a living running companies have to look at this the way you look at molecules. What we hear at the bowling alley isn't worth a damn if the hard measurements say otherwise. The hard reality is that the "we" does not include all Americans. It's not even "most", and of the few who are offshoring are not doing it because they have to, they're doing it because most of us are paying them to offshore.
Imagine, those evil offshoring CEO's are only following our orders. Some say that makes us traitors. Wait, the article (India Poaches U.S. Executives For Tech Jobs) is not about the evil Americans who hire slimy foreigners, it's about slimy foreigners hiring 'sell-out traitor' Americans (re posts 7 and 9).
Ya know, if it's not one thing it's another.
Do they require experience?
Full Disclosure: I have a PhD in molecular collision theory.
I have had prospective hiring managers tell me to my face that I was unable to learn the tools they needed.
They have only their own dishonesty and/or stupidity to blame.
for programmers, its a total racket. a US programmer with years of experience, will be nitpicked over the slightest "lack of experience" in their resume - but they will gladly hire an H1B with an inflated resume in the same discipline, because they are willing to accept a lower salary.
First these guys destroy the job market in this country by outsourcing, then move overseas for their own employment since they can make better money working for the companies to which they outsourced. You don't see this as "me" over country?
Its an outside chance, but once those guys all move overseas perhaps those of us who prefer to make something of our own Nation will enbargo the hell out of them. This assumes the remaining folks start voting to protect thier own economy and way of life.
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